The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-09-24
MONEY SITUATION.
II. @. DUN sco.,s REVIEW.
Eject OF tho Treasury Cirouiar-Dspressiot
Rssul.iug from Recent Iron Failures. 4
Condition OF tho Markst-Dscrease
of the Burplus at wnshipEton.

NEW YoRx, Sapt. 23.-R. G. Dun & Co..
weekly review Of trade saya: The sud
den change Of the Governments policy
brings hopetulness 10 the local money
market. Possibly, indeed, too much may
be expected. Treasury purchaues cannot
entirely remove the Consequences OF short
crops, harmful speculation, over hasty de.
velopment, or the change Of active Into
6xed capital. Wall street looks for the
whole Of the sl4.OOO.00o. but a large part
Of the bonds will come from the interior
and the money will 60 thither. Much Of
It is wanted to meet commitments In new
enterprises, and may be 80 absorbed. The
speculative advance In price. which at
once begun, will make more money
needed to carry the same stocks or pro.
ducts. The country Is now using, outside
the Treasury 81 1928, ,0000 Of various
kinds OF money, and q clear addition OF
one per cent would not 10 very far. But
the, disbursement will not be wholly
adding OF currency to the cum in use, be-.
cause the govsrnmentreceip exceed repu.
lar expenditures by g 900 600 or more each
week. The best Of 1t is that the Treasury
has done, and so may be expected 10 do
whatever 1t can to avoid a disturbance,
While money Is instantly made easier in
Wall street, 1t grows lighter Throughout
the interior. Effects Of absorption Of cap.
ital in building and rapid development
are each week felt more clearly, At
Cleveland money Is "very cloae," at Chi.
cago the constant demand from country
towns causes q pressure Of which no re.
Taxation at present is expected. Recent
failures cause caution at Philadelphia,
Former failures salso cause pressure at
Cincinnati, where I per cent. Is common.
ly paid. At New Orleana "money has not
been 80 tight since the Grant. Ward fail.
ure." At Kansas City, Omaha and Mil.
waukee money Ia cloae,t and from nearly
all points collections are reported ''slow,h
or "only fair" During the past week the
Treasury has paid out s., 100000 more
than it has taken in, so that the pay.
ments exceed the receipts for the month
by ST, 100000. rfslIIat5 3
Some depression results from recent fail.
ures in the iron trade and from continued
heavy importations, and, while the best
brands Of pig.iron are firm, the heavy out.
put tends to weaken othor grades. One
large order for rails has bsen cancelled.
Boot and shoe sales are not up to recent
expectations. travellers reporting orders
contracted by monopoly pressure. Leath.
er and hides are consequently dull, and
some slackeniug in the wooden goods trade
checks the late promise Of greater activity
IN wool. Dry goods experienced some re-
action from the unueual activity Of recent
weeks, but prices are firmly held. Prices
In the stock market declined Monday and
Tuesday to the lowest Of the year, but
have since recovered emartly. Wheat ia
alao lifting little, and new speculation
appears in oil with some advance in coffee,
The tendency for the movement is to ad-
vance prices in all markets on accoun. Of
Treasury disbursements, but the ehortness
Of crops and the absorption OF capital into
fixed forms must still have GONE in nluence,
The business failures dnring tho last seven
days number for the United States 1856,
Canada q, total 1873, compared with lSS
last week and 1877 for the corresponding
week in 1888, i@51' 5=si7 r&{tIl. =